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Volvo may hand Polestar stake to its parent Geely
Polestar would need to inject an additional $1 billion over the next 12 months to keep it afloat, analysts at Bernstein said in a note last week, advocating the nameplate should not be independently listed.
Polestar last week said it plans to cut about 450 jobs globally, or about 15 percent of its workforce, amid “challenging market conditions.”
It also said in November that it would try to reduce its reliance on external help, publishing a revised business plan, which included getting additional loans from Volvo and Geely.
The news could raise questions about the viability of Polestar, which aims…